Hotel owner Mohammad Murad has invested some EUR 4 million in a residential compound in Northern Bucharest, called Green Residence, according to Wall-Street.ro.

Work on the compound in the Baneasa area was finalized this week, and all 90 apartments in the five blocks of flats are on sale, for prices between EUR 46,000 and EUR 60,000.

Murad, who owns the Phoenicia hotel chain in Romania, has built over 2,000 housing units in Bucharest and Constanta in the last ten years. The investor also owns the Spring Time fast food chain, and the Mandy canned food factory.

editor@romania-insider.com